107, High Street, Street, BA16 0EY
SOLD, £400,000


THE PROPERTY

The property comprises a traditionally constructed double fronted shop unit of stone construction under a tiled roof, arranged over ground and two upper floors.
The upper parts have independent access from the high street.
To the rear is a sizable warehouse linked to the ground floor.
The rear of the property is accessed from the main town centre car park operated by the local authority and comprises 8-10 parking spaces.

Total Floor Area: 4922 sq ft

LOCATION

Street is a market town approximately 30 miles to the south of Bristol and 8 miles to the west of Wells. Bridgwater and Junction 23 of the M5 are approximately 12 miles to the west. Street is the home of CJ Clarks and the location of the UK’s first factory outlet retail scheme which comprises approximately 180,000 sq ft of discount retailing, including M&S, Next, Gap, North Face and numerous other brands. The high street includes Pizza Express, Barclays Bank, HSBC, whilst the Crispin Centre with high street frontage includes Tesco, WH Smith and Boots.

THE OPPORTUNITY

INVESTMENT

To acquire excellent retail premises of character in a prime retail area.
The whole property is let to Co-Operative Bank on a full repairing and insuring lease, expiring 24 December 2017 at a passing rent of £49,500 p.a.
The upper floors have been sublet to Apex Dental Group - we understand they may be interested in leasing the upper floors at £10,500 pa once the Co Op lease ends.

DEVELOPMENT

To develop the warehouse premises to the rear into further accommodation or to seek planning consent for a residential or commercial scheme subject to consents
Alternatively buyers may wish to explore a larger residential scheme of the whole site.

ACCOMMODATION

Ground Floor Sales: 1,074 sq ft (100 sq m)
Offices: 294 sq ft (27 sq m)
First Floor: 945 sq ft (88 sq m)
Second Floor: 455 sq ft (42 sq m)
Rear Warehouse GF Storage: 970 sq ft (90 sq m)
FF Storage: 745 sq ft (69 sq m)

Total 4,492 sq ft (416 sq m)

VAT

We understand no VAT is payable on the property.

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